* Q1 adj EPS $1.94 vs est $1.87
* Q1 revenue up 31 percent
* Raises 2012 EPS view to $9.45
* The North Face global revenue up 14 percent
April 27 (Reuters) – VF Corp posted a higher
quarterly profit on Friday, helped by strong demand in Asia and
Europe, prompting the company to raise profit estimates for the
year.
For 2012, the owner of the North Face, 7 For All Mankind
and Lee brands now expects to make $9.45 a share, up from the
$9.30 a share it had earlier expected.
In the first quarter ended March 31, the company earned
$215.2 million, or $1.91 per share, compared with $200.7
million, or $1.82 a share, a year earlier.
Adjusting for forex and other things, it earned $1.94 a
share. Analysts, on average, were expecting VF to earn $1.87 a
share, according to Thomson Reuters I/B/E/S.
Revenue rose 31 percent to $2.56 billion. Global revenue of
The North Face brand increased 14 percent during the quarter.
In Asia, revenue rose 19 percent and it rose 13 percent in
Europe, apart from gains from brand acquisitions.
Shares of the company closed at $154.00 Thursday on the New
York Stock Exchange.
